|Over a month ago|
Assurant sees FY21 operating EPS up 10%-14%, consensus $10.68 » 16:2308/0308/03/21
For full-year 2021, the…
For full-year 2021, the company expects: Assurant net operating income, excluding reportable catastrophes, per diluted share, to increase approximately 10 to 14 percent from $9.88 in 2020. Results for 2021 are expected to be driven primarily by growth within Global Lifestyle and a lower Corporate and Other loss, as well as share repurchases, including the completion of the company's three-year capital return objective and initial deployment of proceeds from the sale of Global Preneed. Growth in net operating income, excluding reportable catastrophes, is expected to be mainly driven by high single-digit growth in Global Lifestyle, with expansion across all lines of business, as well as a lower Corporate and Other loss. Global Housing net operating income, excluding reportable catastrophes, is now expected to be roughly flat versus the prior year, as underlying growth is offset by lower REO volumes and an increase in non-catastrophe losses to more normalized levels. Adjusted EBITDA, excluding reportable catastrophes, is now expected to grow at a similar rate to net operating income, excluding reportable catastrophes, with double-digit Adjusted EBITDA growth in Global Lifestyle. Net operating income, excluding reportable catastrophes, is expected to be lower in the second half of 2021 compared to the first half of 2021, mainly due to increased investments to support long-term growth in our connected world businesses, lower investment income and increased Corporate and Other expenses due to timing of spending. Business segment dividends from Global Lifestyle and Global Housing to approximate segment net operating income, including reportable catastrophes. This is subject to the growth of the businesses, rating agency and regulatory capital requirements, investment portfolio performance and a potential increase in U.S. corporate tax rates. Capital to be deployed to support business growth, fund investments and return capital to shareholders in the form of share repurchases and dividends, subject to Board approval and market conditions.
Assurant reports Q2 operating EPS $2.99, consensus $2.45 » 16:2208/0308/03/21
Reports Q2 revenue…
Reports Q2 revenue $2.54B, consensus $2.39B. "Our second quarter performance demonstrated continued momentum and strong embedded growth across our Global Lifestyle and Global Housing businesses," said Assurant Chief Executive Officer Alan Colberg. "The closing of the Global Preneed sale to CUNA Mutual Group represents another major milestone in our transformation. Looking ahead, we are well-positioned to deliver on our financial objectives for 2021 and remain focused on driving innovation and profitable growth across our market-leading lifestyle and specialty P&C businesses."
William Blair starts 'compelling GARP opportunity' Assurant at Outperform » 07:0807/2307/23/21
William Blair analyst…
William Blair analyst Jeff Schmitt initiated coverage of Assurant with an Outperform rating and no price target. Assurant is a leading global provider of warranties for major consumer purchases and niche property solutions, Schmitt tells investors in a research note. The analyst says the stock represents a "unique and compelling GARP opportunity." Assurant has high-quality franchises, leading market positions, high levels of capital return, mid-teens earnings growth prospects, and improving consistency as it transitions to a services company, contends Schmitt.
Assurant initiated with an Outperform at William Blair » 06:4007/2307/23/21
William Blair analyst…
William Blair analyst Jeff Schmitt initiated coverage of Assurant with an Outperform rating.
Assurant appoints Manny Becerra to chief innovation officer » 08:0807/1307/13/21
Assurant announced that…
Assurant announced that Manny Becerra has been appointed to the newly created role of chief innovation officer, effective immediately. Becerra will continue reporting to Keith W. Demmings, who was recently appointed President of Assurant and has been named to succeed Alan Colberg as the company's CEO in January. Biju Nair, who joined Assurant through its recent acquisition of HYLA Mobile, where he was CEO, will succeed Becerra as president of the company's global Connected Living business.
|Over a quarter ago|
Assurant acquires remaining shares of Olivar, terms undisclosed » 05:2206/1606/16/21
Assurant announced it has…
Assurant announced it has purchased the remaining shareholding in Olivar, a provider of mobile device lifecycle management and asset disposition in South Korea. The company said the transaction supports Assurant's growth strategy for its connected living business and strengthens Assurant's commitment to deliver a market-leading customer experience, mobile device protection and device lifecycle management solutions, as well as innovation through the Assurant suite of products and services.
Assurant CAO sells 7,703 common shares » 17:0805/2505/25/21
In a regulatory filing,…
In a regulatory filing, Assurant CAO Francesca Luthi disclosed the sale of 7,703 common shares of the company on May 21 at a price of $161.0521 per share.
Assurant COO sells over 40,000 common shares » 17:0805/2505/25/21
In a regulatory filing,…
In a regulatory filing, Assurant COO Gene Mergelmeyer disclosed the sale of 40,647 common shares of the company on May 24 at a price of $159.3826 per share.
Early notable gainers among liquid option names on May 21st » 09:5505/2105/21/21
BA, FANG, NVDA, LW, AIZ
Notable gainers among…
Notable gainers among liquid option names this morning include Boeing (BA) $235.72 +8.06, Diamondback Energy (FANG) $79.05 +2.50, NVIDIA (NVDA) $603.41 +19.00, Lamb Weston (LW) $80.03 +2.47, and Assurant (AIZ) $161.91 +4.96.
Assurant initiated with a Buy at BofA » 06:3105/2105/21/21
BofA analyst Grace Carter…
BofA analyst Grace Carter initiated coverage of Assurant with a Buy rating and $207 price target. The stock trades close to the P&C insurance group on a forward price-to-earnings basis, but its "comparatively capital-light" mix and higher return profile warrant a higher valuation premium, the analyst tells investors in a research note. Carter adds that Assurant's recent multiple compression presents a buying opportunity, forecasting multiple expansion over time as the earnings mix is "increasingly oriented towards higher-growth businesses".